• Chalice Mining has spent $45m buying up farmland around the Julimar State Forest to support future development ambitions (The West)

• Growth in world coal capacity has jeopardised emissions forecasts as China continues to bring plants online while the pace of closure in the US & EU slows (FT)

• Gold’s surge helped overshadow rising production costs at Northern Star, who pre-reported quarterly figures on Thursday (The West)

• Industrial metals, including zinc, copper & nickel have jumped as investors bet on rising Chinese demand & tight supply (FT)

• Chinese investors led strong buying in copper & gold stocks, with the materials sector the strongest CSI 300 performer last month (Bloomberg)

• A restructuring at Sibanye-Stillwater’s South African gold operations could lead to 4,000 job losses (Reuters)

• The recent rise in petrol prices has caused Biden fresh headaches with less than 6 months until the US presidential election (FT)

• Allianz, a major Woodside investor, plans to vote against the re-election of Richard Goyder as Chair, over climate concerns (The Australian)

• The Congo, which produces 75% of world’s cobalt supply, is studying potential export quotas in an attempt to arrest the price slump (Mining.com)

• Over 98,000 people have been evacuated from floods in Kazakhstan, leading to speculation over the security of uranium production (Reuters)

• The oil price slipped on Thursday as persistent inflation dampened rate-cut expectations, but prices stayed near 6-month highs with geopolitical concerns still rife (Reuters)

• Unlisted Jag Minerals, which holds uranium projects in the US, is being acquired for $10m by US-based Tonogold Resources (The Australian)

• Street Talk has reported that Genex Power shareholders are expected to be told that the company has agreed to binding terms with suitors J-Power (AFR)

• Aspiring copper developer, New World Resources is raising $10m at $0.036 a share, an 18% discount to the last close (NWC)

• With Sierra Rutile releasing their updated DFS on Sembehun, isn’t it a bit peculiar that the $401 million NPV assumes Sembehun would get the same tax concessions as Area 1?

That fiscal regime applies only to Area 1. We think the Board’s intention here is to demonstrate not what Sembehun is worth to Sierra Rutile, who would undoubtedly face a more onerous tax regime mining the project, but rather what it could be worth to the hostile bidder. Recall that PRM is apparently quite cozy with Sierra Leonne’s government, according to The West. PRM, it’s your turn.

• The role that metal recycling will play as demand grows & supply struggles to keep up is up for debate. This video by the FT gives a quick look at work recycling could look like for various metals

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